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Mobix Labs and Chavant Capital Acquisition Corp. announced the filing of a registration statement with the SEC regarding their proposed business combination on April 7, 2023. This transaction will result in Mobix Labs becoming a publicly listed company under the name Mobix Labs, Inc., expected to list on Nasdaq. The deal, originally agreed upon on November 15, 2022, has been amended as of April 7, 2023, and is anticipated to close in the third quarter of 2023, subject to shareholder approval and SEC effectiveness. Mobix Labs specializes in wireless mmWave 5G and semiconductor solutions for diverse markets including 5G infrastructure and automotive, and holds over 90 patents. The press release emphasizes the strategic importance of the combination, highlighting significant growth potential and market opportunities.
Mobix Labs and Chavant Capital Acquisition Corp. (CLAY) announced a definitive merger agreement, projecting a combined company valued at approximately $276 million in enterprise value and $295 million in equity value. The transaction includes a $30 million PIPE at $10.00 per share and a proposed $100 million equity line of credit. Under leadership of James Peterson, the merger aims to accelerate growth through M&A and enhance Chipset development for 5G technologies. The transaction is expected to close in the first half of 2023.
On July 22, 2021, Chavant Capital Acquisition Corp. announced the successful closing of its initial public offering (IPO) with 8,000,000 units priced at $10.00 each. The units began trading on NASDAQ under the symbol CLAYU. Each unit comprises one share and three-quarters of a redeemable warrant, with the whole warrant exercisable at $11.50 per share. The company primarily seeks business combinations in advanced manufacturing and materials technology sectors. Roth Capital Partners and Craig-Hallum Capital Group managed the offering, which includes a 45-day over-allotment option for underwriters.
Chavant Capital Acquisition Corp. announced its initial public offering (IPO) of 8,000,000 units priced at $10 each, set to trade on NASDAQ under the ticker symbol CLAYU starting July 20, 2021. Each unit comprises one ordinary share and three-quarters of a redeemable warrant, with whole warrants exercisable for one ordinary share at $11.50. The IPO aims to raise funds for a business combination, focusing on the advanced manufacturing and materials technology sectors. The offering is anticipated to close on July 22, 2021, subject to customary conditions.
